Yesterday, BioWare announced Game Update 1.7 to the masses. It is titled 'Return of the Gree' and contains two major features. The Gree are an ancient and enigmatic race who possess powerful technology. They are also known for their oddly talking droids. The two major features of this patch are Reputation and an Ilum revamp.
Reputation. This is exactly what you think it is. More bars to fill, more rewards to acquire. The twist is that it is shared across your legacy, so you won't have to redo reputation gains with every character. That is a great improvement on the typical reputation system.
World PvP. The former world PvP area. Ilum, will be seeing some major changes in 1.7. A renegade Gree vessel has landed on Ilum, and the Gree need your help in dealing with the situation. This is in a contested area, so Sith and Republic forces are bound to run into each other.
The article is light on details, but it sounds like the Gree ship will have some PvE bosses in it, which both sides will compete over. It could be pretty simple, a ship open to both sides and the last side to hit the boss gets the loot. Or, they could be going for a Lake Wintergrasp where the winner of the event gets access to the ship.
I'm pretty excited about this update, especially now that I have a 50 and can participate in the Gree event. I never experienced the old Ilum, so this will be my first taste of world pvp in SWTOR. As for the Reputation system, it all depends how grindy it is. I don't enjoy doing the same quests over and over, I'm looking at you Dailies, so this may not be something I get a whole lot of use out of.